Immunic, Inc. (NASDAQ:IMUX) Sees Large Increase in Short Interest

Immunic, Inc. (NASDAQ:IMUX) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 2,680,000 shares, a growth of 14.0% from the September 15th total of 2,350,000 shares. Based on an average daily trading volume, of 390,200 shares, the days-to-cover ratio is presently 6.9 days.

Immunic Trading Up 2.7 %

IMUX traded up $0.04 on Wednesday, hitting $1.54. 325,013 shares of the company’s stock were exchanged, compared to its average volume of 537,110. The stock has a fifty day moving average of $1.49 and a two-hundred day moving average of $1.35. Immunic has a twelve month low of $0.95 and a twelve month high of $2.11. The firm has a market cap of $138.72 million, a PE ratio of -1.03 and a beta of 1.84.

Immunic (NASDAQ:IMUX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.02. During the same period in the prior year, the company posted ($0.54) earnings per share. On average, analysts predict that Immunic will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Immunic

A number of hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new stake in shares of Immunic in the first quarter valued at approximately $25,000. Ikarian Capital LLC boosted its holdings in Immunic by 258.3% during the first quarter. Ikarian Capital LLC now owns 1,612,378 shares of the company’s stock worth $2,128,000 after buying an additional 1,162,378 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Immunic by 100.7% in the 1st quarter. Vanguard Group Inc. now owns 3,394,047 shares of the company’s stock worth $4,480,000 after acquiring an additional 1,703,047 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Immunic in the 1st quarter valued at $9,266,000. Finally, BVF Inc. IL purchased a new position in Immunic in the 1st quarter worth about $11,752,000. 51.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 price target on shares of Immunic in a report on Tuesday, July 16th. Leerink Partners restated an “outperform” rating and issued a $5.00 target price on shares of Immunic in a research note on Monday, September 9th. Leerink Partnrs upgraded Immunic to a “strong-buy” rating in a research note on Monday, September 9th. EF Hutton Acquisition Co. I raised Immunic to a “strong-buy” rating in a report on Monday, September 16th. Finally, StockNews.com raised Immunic from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $11.20.

About Immunic

Immunic, Inc, a biotechnology company, develops a pipeline of selective oral immunology therapies for the treatment of chronic inflammatory and autoimmune diseases in the United States and Germany. Its lead development program is IMU-838, which is in Phase 3 clinical trial, for treatment of multiple sclerosis, including relapsing and progressive multiple sclerosis; and moderate-to-severe ulcerative colitis.